How Germany's anti-Keynesianism has brought Europe to its knees

Arbeitspapier

This paper investigates the (lack of any lasting) impact of John Maynard Keynes's General Theory on economic policymaking in Germany. The analysis highlights the interplay between economic history and the history of ideas in shaping policymaking in postwar (West) Germany. The paper argues that Germany learned the wrong lessons from its own history and misread the true sources of its postwar success. Monetary mythology and the Bundesbank, with its distinctive anti-inflationary bias, feature prominently in this collective odyssey. The analysis shows that the crisis of the euro today is largely the consequence of Germany's peculiar anti-Keynesianism.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Working Paper ; No. 886

Classification and Topics

• Classification: Wirtschaft ; History of Economic Thought: Individuals ; Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data) ; Central Banks and Their Policies ; Studies of Particular Policy Episodes ; Economic History: Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations: Europe: 1913-
• Subject: John Maynard Keynes ; Mercantilism ; Economic and Monetary Union ; Euro Crisis

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Bibow, Jörg
• Event: Veröffentlichung
• (who): Levy Economics Institute of Bard College
• (where): Annandale-on-Hudson, NY
• (when): 2017

Further information

• Handle: http://hdl.handle.net/10419/173495
• Last update: 10.03.2025, 11:44 AM CET